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and the relationship between jobless claims and the s&p 500. one reason, paul will tell you, he's still bullish because jobless claims, the four-week average, at a post-recession low. >> all right, john, you're sitting there on the trading desk all day long, see the flow. what kind of a commitment are you seeing in terms of equities? is it still as strong as it was earlier in the year in january. what can you tell us in terms of the sentiments on the part of big institutional investors? >> what we're seeing now is the dips are getting smaller and smaller so guys are not waiting for that bigger dip. they are buying smaller and smaller dips. that's why today we saw the walmart news coming out, but that dip was fairly bought pretty quickly so walmart was able to hold above its weekly moving average which was a positive sign. i think you actually broke the newsnews that that was an e-mail and voicing the opinions of one person at walmart so i think that was much ado about nothing. if we look at the empire p.m. this morning, very good. consumer confidence was good. things are getting better. washington is g
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